Does Central Bark Doggy Day Care provide financial statements for the year 2025?
Central_Bark_Doggy_Day_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 1: Franchisee shall have paid all Royalty Fees, advertising fund contributions, LAC contributions, amounts owed for purchases by Franchisee from Franchisor, or Franchisor's affiliates, and all other amounts owed to Franchisor, Franchisor's affiliates, and third-party creditors, and shall have submitted to Franchisor all required reports and statements;]
See notes to financial statements.
NOTES TO FINANCIAL STATEMENTS
1. Description of business and summary of significant accounting policies
Description of business
On March 31, 2022, Barkley Ventures Franchising, LLC (the Company) replaced Barkley Ventures, Inc., the Company's sole member, as the franchisor for all franchise agreements.
Barkley Ventures Franchising, LLC, located in Oakland Park, Florida, was established for the purpose of selling franchises for the operation of a personalized canine care facility offering day care, overnight boarding services, grooming services, training, and a specialty retail boutique for dogs under the name "Central Bark." The Company extends credit to customers located throughout the United States.
Basis of accounting:
The financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Receivables:
Trade accounts receivable represent monthly royalty and service fees collected from each franchise. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Trade receivables are typically outstanding for 30 days or less. Management evaluates the collectability of trade accounts receivable and records an allowance for credit losses representing the estimate of the expected losses that result from all possible default events over the expected life of the receivables. The Company estimates the allowance based on historical write-off experience and current relationships with customers. The allowance for credit losses as well as the provision for credit losses, write-off activity and recoveries for the years presented are not material to the financial statements. The Company does not have any significant offbalance-sheet credit exposure related to its customers.
Use of estimates:
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
1. Description of business and summary of significant accounting policies (continued)
Revenue recognition:
Source: Item 21 — Financial Statements (FDD page 53)
What This Means (2025 FDD)
According to Central Bark Doggy Day Care's 2025 Franchise Disclosure Document, Item 1 includes a reference to notes to financial statements. Specifically, the statement indicates that the franchisee must have submitted all required reports and statements to the franchisor and includes the phrase "See notes to financial statements."
These notes describe the business and its accounting policies. It states that Barkley Ventures Franchising, LLC replaced Barkley Ventures, Inc. as the franchisor on March 31, 2022. The notes also clarify that the financial statements are prepared using the accrual basis of accounting, following generally accepted accounting principles in the United States. Furthermore, the notes address how the company handles receivables, use of estimates, and revenue recognition.
While the FDD references financial statements and provides some notes, it does not include the actual financial statements for Central Bark Doggy Day Care. A prospective franchisee should request these statements from the franchisor to gain a comprehensive understanding of the company's financial health.